FIRELANDS REGIONAL HEALTH SYSTEM

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1982

Legal Domicile

Principal Officer

KEVIN RILEY

Phone

4195577400

Tax Period

2023-01-01 to 2023-12-31

FIRELANDS REGIONAL HEALTH SYSTEM, founded in 1982, is a micro nonprofit that reported $39K in total revenue in fiscal year 2023. Revenue fell 326% from the prior year — a significant decline worth monitoring.

Mission

FIRELANDS REGIONAL HEALTH SYSTEM SERVES AS A HOLDING COMPANY WHICH PROVIDES DIRECTION AND SUPPORT FOR THE HEALTH CARE DELIVERY SYSTEM COMPRISED OF FIRELANDS REGIONAL MEDICAL CENTER AND OTHER RELATED ENTITIES.

Program Service Accomplishments

Program 1

Expenses: $53,330

INCREASE ACCESS TO COMMUNITY HEALTH CARE BY SUPPORTING FIRELANDS REGIONAL MEDICAL CENTER AND OTHER AREA HEALTH CARE ORGANIZATIONS INCLUDING THE BELLEVUE HOSPITAL.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $-39,241

Other Revenue $0

TOTAL REVENUE $-39,241

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $53,330

Other Expenses $53,330

TOTAL EXPENSES $53,330

Year-over-Year Comparison

	2023	2022	Change
Revenue	$-39,241	$17,326	-3.3%
Expenses	$53,330	$433,713	-0.9%
Net Income	$-92,571	$-416,387	-0.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,900,695

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES O MILLER	VICE CHAIR	2.00	Officer Director	$0	$0	$0
ROGER GUNDLACH	CHAIR	2.00	Officer Director	$0	$0	$0
LEE ALEXAKOS	VICE CHAIR ELECT	2.00	Officer Director	$0	$0	$0
JOHN O BACON	DIRECTOR	1.00	Director	$0	$0	$0
JAMES HART	DIRECTOR	1.00	Director	$0	$0	$0
BRYAN KASPER	DIRECTOR	1.00	Director	$0	$0	$0
TED KASTOR	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD KELLER MD	DIRECTOR	1.00	Director	$0	$0	$0
ALLEN NICKLES CPA	DIRECTOR	1.00	Director	$0	$0	$0
PAULA RENGEL	DIRECTOR	1.00	Director	$0	$0	$0
JAMES WIBLE	DIRECTOR	1.00	Director	$0	$0	$0
LUVADA WILSON	DIRECTOR	1.00	Director	$0	$0	$0
JEREMY NORMINGTON-SLAY	PRESIDENT & CEO	2.00	Officer	$0	$172,400	$857,665
SCOTT CAMPBELL MD	SECRETARY/NON-VOTING	2.00	Officer	$0	$91,598	$563,409
KEVIN RILEY	TREASURER/NON-VOTING	2.00	Officer	$0	$88,231	$479,621
DANIEL J MONCHER	FORMER TREASURER/NON-VOTING	0.00		$0	$13,799	$131,247

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$-39,241	$53,330	$8,671,588	$-92,571
2022	$17,326	$433,713	$15,047,068	$-416,387
2021	$2,241,333	$440,253	$15,794,923	$1,801,080
2020	$745,485	$446,219	$13,612,720	$299,266